#1 Cochran Acquires Ford, Chrysler, Jeep, Dodge & RAM

Pittsburgh, PA – July 18, 2012 – #1 Cochran, Western Pennsylvania’s largest automotive retailer, announced today that it has acquired Charapp Automotive in Natrona Heights, adding five new brands into the #1 Cochran portfolio: Ford, Chrysler, Dodge, Jeep and Ram. The transaction also brings an additional pre-owned vehicle business, wholesale parts unit and collision repair operation to the #1 Cochran enterprise.

The 15-acre Natrona Heights campus will be officially called the #1 Cochran Allegheny Valley MegaCenter. The dealerships are open and operating under the #1 Cochran banner effective immediately. Nearly all of Charapp’s 100 employees are joining #1 Cochran, resulting in a 17 percent increase in the #1 Cochran work force.

“We are delighted to welcome the Charapp team members and customers to the #1 Cochran family. The Charapp dealerships have a proud heritage and we look forward to carrying on the strong legacy that they’ve established,” said Rob Cochran, president and CEO of #1 Cochran.

The acquisition boosts #1 Cochran’s new-vehicle operations to 19 dealerships representing 15 domestic and imported brands. It gives #1 Cochran its first presence in the Allegheny Valley market area and extends the company’s geographic reach in Greater Pittsburgh.

“With locations east, west, south and now north of Pittsburgh, #1 Cochran is able to serve the transportation needs of Western Pennsylvania customers unlike any other retailer,” said Mr. Cochran. “We’re energized to expand our brand to Allegheny Valley and to show an entire new market why we’re the region’s Number One automotive dealer.”

Ron Charapp, president of Charapp Automotive, stated, “I am honored to pass the Charapp torch to a dealer with the reputation and integrity of #1 Cochran. The Cochran organization brings a track record of success and a tradition of service to all of the customers and communities they serve.”

The Charapp acquisition is the latest in a series of growth-driven initiatives underway in recent years at #1 Cochran.

In May, the company broke ground on a new, state-of-the-art Volkswagen showroom on West Liberty Avenue in Pittsburgh’s South Hills. An expansive 40,000 square-foot collision repair facility – the company’s fourth – is currently under construction in Castle Shannon. Last November, #1 Cochran opened Pittsburgh’s first Fiat dealership, capping a year in which the company also built an all-new Subaru showroom at its Monroeville MegaCenter and an entirely-new Buick-GMC facility on its Robinson Township campus.

“Our growth continues to come from our unwavering commitment to customer care and the trust that we’ve built by serving hundreds of thousands of customers over the last 47 years,” Mr. Cochran noted.

About #1 Cochran
#1 Cochran is Western Pennsylvania’s leading automotive retailer and one of the top private dealer groups in the nation. Founded in 1965 as a single-point Pontiac dealership, the company now operates nineteen new-vehicle franchises at showrooms throughout Monroeville, South Hills, Robinson Township and Allegheny Valley. Through its various sales, service, and collision repair operations, #1 Cochran employs more than 700 team members. The only automotive company ever to win the Pittsburgh Business Ethics award, #1 Cochran is deeply committed to the communities it serves, providing support for a broad base of organizations and youth programs. More information is available at www.cochran.com.

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